Funding arb · Price arb /

UNI

all UNI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0375%/8h= −41.1% APRpaid last 24h −0.052%

Price spread now: OKX against GMX+0.183%52s7-day average −0.062% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on GMX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.222%−$22 on $10k

Price spread, last 3 days (all we have)−0.478%−$48 · spread now +0.183%, 7d avg −0.062%

Together, before fees−0.701%−$70 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.245% dearer against GMX than usual: you sell high and buy low (spread +0.183% now, against its 7-day average of −0.062%): +$24 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 2.2 days. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX UNI/USD [UNI-USDC]	8.8478	L +0.0381% / S −0.0321%	pay 0.0048% / 1h	31m 36s	$554K	—	120x
Short	OKX UNI-USDT-SWAP	8.8640	0.0006	get 0.0006% / 8h	3h 31m	$54.8M	$248.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against GMX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee GMXbpFee OKXbpOrdersPrice spread, now +0.183%Rate

Funding earned: −$78.84
Price spread: +0.183% → −0.062%: $24.48
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$76.36
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; OKX: live order book, 3 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy GMX no order-book sample	—	—	—	—	—
Sell OKX live order book, 3 min ago	0.57 bp	8.7 bp −$9	16.2 bp −$162	79.2 bp −$7,916	doesn't fit

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

UNI on 40 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni UNI	−0.0206%	8h	8.8156	−0.364%	$3.9M	$4.9M	—	as long as short
Bybit UNIUSDT	−0.0203%	8h	8.8620	+0.160%	$103.5M	$105.2M	75x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0004%	1h	8.8489	+0.012%	$61K	—	150x	as long as short
OKX UNI-USDT-SWAPshort	+0.0006%	8h	8.8640	+0.183%	$54.8M	$248.4M	50x
01 Exchange UNIUSD	+0.0096%	1h	8.8696	+0.246%	$443	—	10x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8598	+0.135%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.8615	+0.154%	$850K	$3.9M	10x	as long as short
Hyperliquid UNI	+0.0100%	1h	8.8698	+0.248%	$96.3M	$59.9M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8602	+0.140%	$1.1M	$3.4M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.8630	+0.171%	$299K	$564K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance UNIUSDT	+0.0100%	8h	8.8630	+0.171%	$217.3M	$597.5M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8700	+0.250%	$273K	$599K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8630	+0.171%	$22.8M	$59.5M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8610	+0.149%	$43.2M	$24.6M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8580	+0.115%	$13.8M	$13.7M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8650	+0.194%	$32.1M	$41.2M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	8.8600	+0.137%	—	$50.7M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8578	+0.112%	$980K	$2.4M	10x	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8327	−0.171%	$166K	$344K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8507	+0.033%	$617K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8400	−0.089%	$83K	$726K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8320	−0.179%	$105K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8500	+0.024%	$89K	$341K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8530	+0.058%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8511	+0.037%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8550	+0.081%	$25K	$670K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8697	+0.247%	$704K	$4.2M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8570	+0.103%	$26.7M	$4.3M	50x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0103%	1h	8.8610	+0.149%	$553K	$129K	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8603	+0.141%	$308K	$1.4M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8506	+0.032%	$31K	$1K	3x	as long as short
Coinbase International UNI-PERP-INTX	+0.0192%	1h	8.8620	+0.160%	$1.0M	$5.4M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8560	+0.092%	$9.8M	$3.3M	75x	as long as short
dYdX UNI-USD	+0.0228%	1h	8.8619	+0.159%	$245K	$5K	10x	as long as short
Kraken Futures PF_UNIUSD	+0.0317%	1h	8.8617	+0.156%	$5.0M	$7.4M	50x	as long as short
Reya UNIRUSDPERP	+0.0358%	1h	8.8437	−0.047%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]long	L +0.0381% / S −0.0321%	1h	8.8478	long leg	$554K	—	120x
Aftermath Perps UNIUSD	+0.0579%	1h	8.8318	−0.181%	$1K	$51K	10x	as long as short
Lighter UNI	+0.0640%	1h	8.8792	+0.354%	$4.6M	$5.3M	15x	as long as short
Injective UNI/USDC PERP	+0.4514%	1h	8.7900	−0.654%	$657	$97K	12x	as long as short